Fletcher Chicago requires the Lessee to
obtain adequate insurance coverage for the replacement value of the
Equipment and for injuries to person or property resulting from the use or
the possession of the Equipment during the Rental Period (until returned to
Fletcher Chicago).
The Lessee must provide a current Certificate of Insurance, issued by its
Insurance Agent specifying:
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The name, address and phone number of the
Agent or Producer
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The Lessee name must appear as the Named
Insured
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The name of the Insurer (i.e. Insurance
Company ) affording Coverage
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General Liability Limits of at least
$ 1,000,000 per occurrence
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Fletcher Chicago Inc. is named as an
Additional Insured with regards to Liability Coverage.
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Fletcher Chicago Inc. is named as a Loss
Payee for full replacement cost with regards to Equipment.
Insurance covering leased equipment is
generally noted in the Other Section on most Insurance Certificate
Forms:
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The Type of Insurance is an Equipment
Floater for Leased and Rented Property. Or it might be called
Equipment Floater – Property of Others or bailees.
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The amount or limit of insurance --
should be for all of the rental equipment from all companies on the
project (at replacement cost)
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Specify the amount of the deductible
for the Leased and rented Equipment
The special provisions section must
additionally specify:
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Coverage Form should be Special Form ( Not
named perils). The was previously called All Risk
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The leased equipment is on a replacement
cost basis
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Covers theft of equipment from locked cars
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Covers rented equipment in transit
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Worldwide coverage -- if necessary
An actual signature by the agent is required
to certify the form
Refer to Fletcher Chicago's Rental
Agreement Terms and Conditions and the Rental Sales Policy for additional
details.
Insurance is maintained at the Lessee's own
expense. Lessee's coverage is primary and non-contributory.
Homeowners Polices do not cover Rented
Equipment. Companies that provide appropriate coverage include: Chubb,
Hartford, Fireman's Fund, AON,
Gulf, and Vigilant. Check with your Independent Agent.
If Renting the Production Offices @ 1010
N. North Branch, Lessee must show our additional interest as Lessor of
Premises and show proof of Workers Compensation and Employers Liability
Insurance.
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